MARKETING MANAGEMENT

Companies will want to find qualified individuals who can market their products or services on an international level. There are no formal educational requirements for becoming a marketing manager. The common quality that all marketing managers seem to have is past experience that is indicative of their success in this position. They may have served as marketing agents for companies in their past. A company will usually want to see that a person has three to five years of experience in a marketing position. A degree in public relations can also be helpful for this position. If you want to become a marketing manager, you should possess excellent communication skills.

You should have the ability to communicate the benefits of a particular service or product that is offered by your company. You will need to attract the interest of potential customers. You will need to be someone who can take initiative in promoting a new product. One of the major responsibilities of a marketing manager is developing programs that will develop the customer base for a product.

This means that you may develop a new social media marketing initiative that increases the interest that young people have in your product. You may need to oversee a group of marketing agents and ensure that they meet their goals for a given month. A commonly cited definition of marketing is simply "meeting needs profitably".

The implication of selecting target segments is that the business will subsequently allocate more resources to acquire and retain customers in the target segment s than it will for other, non-targeted customers. In some cases, the firm may go so far as to turn away customers who are not in its target segment.

The doorman at a swanky nightclub, for example, may deny entry to unfashionably dressed individuals because the business has made a strategic decision to target the "high fashion" segment of nightclub patrons. In conjunction with targeting decisions, marketing managers will identify the desired positioning they want the company, product, or brand to occupy in the target customer's mind. This positioning is often an encapsulation of a key benefit the company's product or service offers that is differentiated and superior to the benefits offered by competitive products.

Ideally, a firm's positioning can be maintained over a long period of time because the company possesses, or can develop, some form of sustainable competitive advantage. If the company has obtained an adequate understanding of the customer base and its own competitive position in the industry, marketing managers are able to make their own key strategic decisions and develop a marketing strategy designed to maximize the revenues and profits of the firm.

The selected strategy may aim for any of a variety of specific objectives, including optimizing short-term unit margins, revenue growth, market share , long-term profitability, or other goals. After the firm's strategic objectives have been identified, the target market selected, and the desired positioning for the company, product or brand has been determined, marketing managers focus on how to best implement the chosen strategy.

Traditionally, this has involved implementation planning across the "4 Ps" of: Taken together, the company's implementation choices across the 4 Ps are often described as the marketing mix , meaning the mix of elements the business will employ to " go to market " and execute the marketing strategy.

The overall goal for the marketing mix is to consistently deliver a compelling value proposition that reinforces the firm's chosen positioning, builds customer loyalty and brand equity among target customers, and achieves the firm's marketing and financial objectives. In many cases, marketing management will develop a marketing plan to specify how the company will execute the chosen strategy and achieve the business' objectives.

The content of marketing plans varies from firm to firm, but commonly includes:. More broadly, marketing managers work to design and improve the effectiveness of core marketing processes , such as new product development , brand management , marketing communications , and pricing. Marketers may employ the tools of business process reengineering to ensure these processes are properly designed, and use a variety of process management techniques to keep them operating smoothly. Effective execution may require management of both internal resources and a variety of external vendors and service providers, such as the firm's advertising agency.

Marketers may therefore coordinate with the company's Purchasing department on the procurement of these services. Under the area of marketing agency management i. Marketing management employs a variety of metrics to measure progress against objectives.

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It is the responsibility of marketing managers to ensure that the execution of marketing programs achieves the desired objectives and does so in a cost-efficient manner. Marketing management therefore often makes use of various organizational control systems, such as sales forecasts , and sales force and reseller incentive programs, sales force management systems , and customer relationship management tools CRM. Some software vendors have begun using the term marketing operations management or marketing resource management to describe systems that facilitate an integrated approach for controlling marketing resources.

In some cases, these efforts may be linked to various supply chain management systems, such as enterprise resource planning ERP , material requirements planning MRP , efficient consumer response ECR , and inventory management systems. Globalization has led some firms to market beyond the borders of their home countries, making international marketing a part of those firms' marketing strategy. In part, this is because the role of a marketing manager or sometimes called managing marketer in small- and medium-sized enterprises can vary significantly based on a business's size, corporate culture , and industry context.

For example, in a small- and medium-sized enterprises, the managing marketer may contribute in both managerial and marketing operations roles for the company brands. In a large consumer products company, the marketing manager may act as the overall general manager of his or her assigned product. From Wikipedia, the free encyclopedia. Marketing Marketing Marketing management Key concepts. Behavioral targeting Brand ambassador Broadcasting Display advertising Drip marketing In-game advertising Mobile advertising Native advertising New media Online advertising Out-of-home advertising Point of sale Printing Product demonstration Promotional merchandise Publication Visual merchandising Web banner Word-of-mouth.

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